There are several new comments, self serving to be sure, out in the last few weeks from the the Chairman of Shell, The Chairman of Total and the IEA. All of them state that there won't be enough fuel coming out of the ground to match demand in 2030. The latest reported today on Bloomberg from the IEA mentioned shortages as soon as 2015.

Why the sudden commentary? Well justifying the run up in fuel prices certainly is a key reason. But no matter whether they are only 'justifying' it or not the runup is real and we can plan on $4 - $5 per gallon prices soon, very soon.

For us here in the US, not Canada though, we are also at the mercy of the US$ which has an anchor tied to it ( Mr Bush's War ). As the conflict goes longer and longer and longer all it's doing is sucking down our national wealth and making the Treasury Dept a beggar to the Far East who are actually funding the war. The more notes floated the more money is printed and the value of the US$ goes lower and lower. But when the US$ goes lower, down 15-20% this year, the prices of everything imported - such as oil - goes up the same amount.

Even though Iraq might have HUGE reserves we may never see any benefit from invading. All that liquid wealth may end up in the hands of people who really really hate us. But we the population will be left with ungodly debts and an increasingly worthless currency.

Good job Dubya, Dick, Donnie, et al.

Lifetime fuel usage: 2.1 GPC ( 1.99 recent )